California Public Employees Retirement System Sells 6,784 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

California Public Employees Retirement System cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 281,770 shares of the company’s stock after selling 6,784 shares during the period. California Public Employees Retirement System’s holdings in Live Nation Entertainment were worth $36,489,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LYV. World Investment Advisors LLC bought a new position in shares of Live Nation Entertainment during the 3rd quarter worth approximately $38,000. Murphy & Mullick Capital Management Corp bought a new position in Live Nation Entertainment during the fourth quarter worth $40,000. Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment in the third quarter valued at $42,000. Golden State Wealth Management LLC bought a new position in shares of Live Nation Entertainment in the fourth quarter valued at about $42,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $44,000. Institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Macquarie lifted their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Guggenheim boosted their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $174.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.33.

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the sale, the executive vice president now directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock valued at $10,497,143 over the last ninety days. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $134.64 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market cap of $31.43 billion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a 50 day moving average of $137.82 and a 200-day moving average of $129.34. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.